Economic systems come, and economic systems go. No economic system lasts forever. Capitalism is not likely to last forever, either.

This relationship is the foundation for the argument, made by some trade unionists and labour advocates, that high wages can actually be "good for business". The precedent set by Henry Ford in 1914, who offered workers $5.00 per day (a very high wage at the time) so they could afford to buy the same cars they made, is often invoked.

Economic systems come, and economic systems go. No economic system lasts forever. Capitalism is not likely to last forever, either.

Capitalism, in contrast, has existed for fewer than 300 years. If the entire history of Homo sapiens was a 24-hour day, then capitalism has existed for two minutes.

Never trust an economist with your job. Learn about economics yourself. And make up your own mind about what might protect your job - and what might destroy it.

Kalecki thus precisely predicted the economic and political U-turn that occurred with the advent of neoliberalism. Kalecki also argued that fundamental institutional changes, especially regarding wage-setting and other aspects of the employment relationship, would be essential if full employment was to be sustained.

We know that investment causes growth. But it is also true that growth causes investment.